180,479 Shares in Cricut, Inc. (NASDAQ:CRCT) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new stake in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 180,479 shares of the company's stock, valued at approximately $1,029,000. Teacher Retirement System of Texas owned approximately 0.08% of Cricut at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CRCT. R Squared Ltd purchased a new position in shares of Cricut during the fourth quarter valued at approximately $36,000. Copeland Capital Management LLC purchased a new stake in Cricut during the 4th quarter valued at $63,000. Drive Wealth Management LLC bought a new position in shares of Cricut during the 4th quarter valued at $64,000. Olympiad Research LP purchased a new position in shares of Cricut in the 4th quarter worth $67,000. Finally, Quantbot Technologies LP bought a new stake in shares of Cricut in the third quarter worth $93,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Cricut Trading Up 2.1 %

CRCT stock traded up $0.11 during midday trading on Wednesday, reaching $5.33. 341,613 shares of the company's stock traded hands, compared to its average volume of 503,083. The stock's 50-day moving average is $5.52 and its 200 day moving average is $5.85. The stock has a market cap of $1.13 billion, a P/E ratio of 19.04 and a beta of -0.02. Cricut, Inc. has a 52-week low of $4.67 and a 52-week high of $8.40.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its earnings results on Tuesday, March 4th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. Cricut had a return on equity of 12.36% and a net margin of 8.47%. The company had revenue of $209.31 million for the quarter, compared to analysts' expectations of $214.41 million. As a group, research analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

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Analyst Ratings Changes

Separately, Morgan Stanley lowered their target price on Cricut from $3.90 to $3.80 and set an "underweight" rating on the stock in a report on Thursday, March 6th.

Insider Activity at Cricut

In related news, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $5.63, for a total transaction of $119,637.50. Following the transaction, the chief executive officer now owns 3,717,090 shares in the company, valued at approximately $20,927,216.70. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 312,509 shares of company stock worth $1,765,519. 18.02% of the stock is owned by company insiders.

Cricut Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.